and the unions have reached an agreement today to carry out the largest ERE in the history of Spanish banking, which will finally result in 6,452 departures, all of them voluntary, and 1,839 fewer than those initially proposed by the bank. In total, it will adjust 14% of the template. Both parties have carried out an intense week of negotiations, which began on Tuesday (the day on which the consultation period expired), continued on Wednesday until dawn, and extended to the afternoon of this Thursday, until finishing tying all the fringes The entity amounts to 1,900 million, as planned, and will allow estimated cost savings of 770 million.
The main turning points, in the end accepted by the entity according to the unions, were today in the geographical mobility of workers, since CaixaBank wanted to be able to apply it to 40 kilometers when necessary for organizational reasons, and the unions requested an economic compensation.
Specifically, the bank’s latest proposal proposed limiting it to a maximum of 75 kilometers when it was necessary for the entity’s restructuring plan and as a measure to maintain employment, and outside these circumstances it proposed setting it, when it was necessary for organizational reasons. , in 40 kilometers, compared to the current 25 kilometers.
The other point of discrepancy was the contributions to the pension plans of CaixaBank employees, which the unions wanted to increase by 2%, compared to the 1.75% offered by the company, to compensate for decreases in some insurance coverage.
The pact contemplates early retirement from the age of 52 and also 570 direct relocations in group companies and 138 vacancies in subsidiaries that will be offered to the entire workforce. The process will entail the closure of 1,534 branches, 27% of the network.
The management, with the aim that the ERE be of voluntary adhesion, has established a protocol, by which the high surplus of casualties by provinces and functions will be covered with geographical and labor mobility measures. Likewise, it has established phases for affiliation. In the event that, after applying this procedure, some residual surplus positions remain pending resolution, an internal monitoring committee would study, case by case, what internal flexibility measures could be applied in each situation.
Conditions
CaixaBank, in order to obtain the approval of the unions, has raised the maximum number of people affected for employees between 54 and 55 years old (from 1,500 to 1,750) and between 52 and 53 years old (from 500 to 750), something that representatives of the staff demanded that he withdraw completely and that has been one of the points that has generated the most controversy in the conversations. Similarly, it has improved some economic conditions. It is worth highlighting an increase in voluntary premiums (14,000 euros for the group of 52 and 53 years old, who will be early retired); and for those under 52 years of age, 13,000 euros for those who have been with the entity for less than 6 years, and 23,000 euros for those who exceed that seniority.
As agreed, those over 63 will receive compensation of 20 days per year worked, with a cap of 20 monthly payments. Those affected with more than 54 will receive an installment payment equivalent to 57% of the salary, plus certain bonuses for voluntary adhesion. Early retirement for staff between 52 and 53, the subscription will also be monthly and will be equal to 57% of the salary multiplied by 8, with a single premium of 14,000 euros. Finally, those under 52 years of age, will have compensation of 40 days per year with a maximum of 36 monthly payments, with different premiums.
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